FT News Briefing Wednesday, May 8
May 8, 2019
Global equities hit a significant dip as fears of a US-China trade war loom large. Lyft's stock plummets after warnings of slowing growth, dropping below its IPO price. Meanwhile, Google announces an innovative smart display featuring facial recognition for personalized recommendations. Additionally, the discussion dives into Bayer's challenges with super weeds, particularly palmer amaranth, and the implications of its controversial herbicide, Roundup, amidst ongoing legal battles related to health concerns.
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Market Tumble
- Global equities dropped significantly due to U.S.-China trade tensions.
- Investors sought safer assets like bonds, increasing market volatility.
Lyft Struggles
- Lyft's share price fell after their first quarterly report as a public company.
- Revenue growth is slowing, and significant losses are expected to continue.
Google's New Smart Display
- Google unveiled a smart display with facial recognition for personalized recommendations.
- It processes images on the device instead of sending data to the cloud.